The records of Pacific Inc. for 2016 show that it completed goods costing $160,000 and that it

Question:

The records of Pacific Inc. for 2016 show that it completed goods costing $160,000 and that it sold goods costing $209,000 for the year. Give the entries in general journal form on December 31, 2016, to record the cost of goods completed and the cost of goods sold for the year.